The ITAT Kolkata deleted an addition under Section 69 and a tax addition under Section 56(2), ruling that a taxpayer’s salary account was a valid source for property investment.
ITAT Ahmedabad held that bad debts written off as irrecoverable in books is enough and it is not necessary to demonstrate that a debt has become bad. Accordingly, addition on account of bad debts liable to be deleted.
GTL Infrastructure Limited Vs State of Jharkhand (Jharkhand High Court) Based on the Jharkhand High Court’s judgment in the case of M/s. GTL Infrastructure Limited Versus The State of Jharkhand, the refund of a statutory pre-deposit is a vested right of the assessee and cannot be denied by invoking the limitation period under Section 54 […]
The Competition Commission of India (CCI) dismisses a case against Bishal Juice Corner, stating that the allegations of unfair practices and illegal occupation do not fall under the Competition Act.
The Rajasthan High Court has stayed a DGGI show cause notice, questioning the constitutional validity of delegating ‘Proper Officer’ powers. The case, tagged with a similar pending matter, challenges the GST enforcement structure.
The ITAT Ahmedabad accepted a developer’s project completion accounting method, deleting a Rs. 2.24 crore addition made by the AO for alleged profit suppression.
ITAT Chandigarh directs the Assessing Officer to verify if the assessee paid a portion of GST before the return due date to allow deduction under Section 43B.
ITAT Delhi rules that cash deposits made during demonetization from recorded cash sales are not unexplained income, deleting an addition under Section 68.
The ITAT Delhi deleted a Rs. 3.36 crore addition for bogus sundry creditors, ruling that the addition was invalid as the assessee’s purchases and sales were not disputed.
The ITAT Delhi dismissed the Revenue’s appeals against Asian Consolidated Industries, upholding the CIT(A)’s decision to allow deductions and reject the application of Section 44AD.
